RIYADH: Saudi real estate developer Al Akaria has seen its losses widen by 539 percent in the first quarter of 2022, despite a surge in sales. Saudi Real Estate Co., as the firm is formally known, reported SR29.4 million ($7.8 million) in net loss, compared to SR4.6 million in the same period last year, according to a bourse filing. The company attributed the results to rising finance costs following the suspension of activities in Al Widyan Project as well as higher marketing and other expenses. Revenues, on the other hand, soared by 54 percent on the year to SR282 million. Established in 1976, Al Akaria is one of Saudi Arabia"s leading real estate firms with a track record of delivering residential, retail, and commercial projects.